China to boost imports and improve trade balance

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China's State Council has unveiled a package of policies to boost the country's imports and improve its trade balance. These include adjustments of import tariffs and measures to facilitate fund-raising and customs clearance for import enterprises. That's according to a statement released after a State Council executive meeting.

According to the cabinet, China will cut import duties on some energy and raw materials products to increase consumption. It also notes, the country wants to buy more from its trade partners to boost the domestic economy and lift domestic living standards. The government is also planning to cut import duties on consumer products and hi-tech goods.

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